IRS Restores Oversight of Foreign Real Property Tax Filings Following Whistleblower Disclosure

A whistleblower disclosure to the U.S. Office of Special Counsel (OSC) has led the Internal Revenue Service (IRS) to restore its coordination function, provide training, and update procedures for tax filings related to foreign ownership of U.S. real estate, specifically concerning the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA).